Frequency Auction Bidding
In the LTE frequency auction underway among the three mobile carriers, the total bid has topped two trillion won (US$1.796 billion) with the final additional bid amount having increased by 54.1 billion won (US$48 million). In the 24th round of the fourth day of the auction, one company in the Band Plan 2 won, where KT is the most likely successful bidder.
The Ministry of Science, ICT, and Future Planning announced on August 22 that the Band Plan 2 became the winner up to the 24th round, and the highest price block sum was 2.0342 trillion won (US$1.8267 billion).
The frequency auction has now passed the halfway point, and the competition is getting fiercer than before. The bid amount went up by 26.8 billion won (US$24.1 million) the first day, but by just 19.7 billion (US$17.7 million) and 16.2 billion won (US$14.56 million) the following two days. However, it soared by 54.1 billion won (US$48.58 million) on the fourth so that the total reaches 116.8 billion won (US$104.9 million).